A DEAD CAT in the house.
Comedy my friends . . bonus if you instantly got the Warren Buffet reference to Bitty.
OK, getting down to the biz of our darling XRP, some points to indicate here :
1. With the exception of volume presence in the recent range, this bounce looks a LOT like a dead cat which could mean a continuation of the broader downtrend. Let me know if you disagree.
2. The Bear hasn't really lived up to it's name until it's endured 2x the bull cycle duration so stay frosty on that and never shoot your wad, DCA is the way.
3. We still have a longer lived and yet to be engulfed wick from old, look to the left John Wick
4. Some of our other XRP zealots have been indicating returns to lower levels at least into the 0.30's, some as low as 0.10. We haven't seen a major scam wick in a while but they're out there, waiting to liq the masses.
5. The Cat "could" theoretically take us to above 0.70 so again, a light - medium bag from this area wouldn't be terrible especiall if you get to TP at that level. I personally like the idea of a stop entry from 0.58 to 0.68 but that's me. I do have lower buy points(see my previous idea which I'm still maintaining for the daily action.
Caveats : This isn't investment advice, DYOR and I'm a contrarian. I've made my profits as a bear / long scalper and tend to do better in down markets because retracements are easier to trade, although I'm still a big fan of the Cup & Handle which I've traded successfully many, many times.
Hope this helps you in your decision making.
Box
Comedy my friends . . bonus if you instantly got the Warren Buffet reference to Bitty.
OK, getting down to the biz of our darling XRP, some points to indicate here :
1. With the exception of volume presence in the recent range, this bounce looks a LOT like a dead cat which could mean a continuation of the broader downtrend. Let me know if you disagree.
2. The Bear hasn't really lived up to it's name until it's endured 2x the bull cycle duration so stay frosty on that and never shoot your wad, DCA is the way.
3. We still have a longer lived and yet to be engulfed wick from old, look to the left John Wick
4. Some of our other XRP zealots have been indicating returns to lower levels at least into the 0.30's, some as low as 0.10. We haven't seen a major scam wick in a while but they're out there, waiting to liq the masses.
5. The Cat "could" theoretically take us to above 0.70 so again, a light - medium bag from this area wouldn't be terrible especiall if you get to TP at that level. I personally like the idea of a stop entry from 0.58 to 0.68 but that's me. I do have lower buy points(see my previous idea which I'm still maintaining for the daily action.
Caveats : This isn't investment advice, DYOR and I'm a contrarian. I've made my profits as a bear / long scalper and tend to do better in down markets because retracements are easier to trade, although I'm still a big fan of the Cup & Handle which I've traded successfully many, many times.
Hope this helps you in your decision making.
Box